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Saudi Basic Industries Corp (SABIC), the world’s fourth largest petrochemicals firm, said on Sunday it would establish a new unit to manage its agricultural investments.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…
122 Views | the publication reaches you by | Saudi Arabia TodayUnder the agricultural plans, SABIC will combine its stakes in companies in the sector that manufacture products including urea, compound fertilisers and phosphates.
SABIC has also entered a deal with fellow listed firm Saudi Arabian Fertiliser Company (SAFCO) to integrate its 43 per cent stake into SABIC Agricultural Nutrient Investments following shareholder and regulatory approval.
CEO Yousef Bin Abdullah Al Bunyan said the plans would help the company achieve long-term sustainable growth and improve production under its 2025 strategy.
SABIC reported a 5.4 per cent rise in third quarter net profit last month citing higher average selling prices and increase in sale volumes.
The project for the design, engineering and procurement of the new 400,000m3/day Jubail II seawater reverse osmosis (SWRO)…
221 Views | the publication reaches you by | Saudi Arabia Today
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
